James Halstead sees record profit, despite disappointing December

Writer, Stock Market Wire
Wednesday, January 30, 2019 - 14:33

Commercial flooring manufacturer James Halstead said it had a disappointing December though trading in January was tracking ahead on-year.

At the company's AGM on 7 December, chairman Anthony Wild noted that trading had been encouraging in terms of turnover and profit for the first five months.

'The month of December was disappointing and broke with the trend of increases of the previous months,' James Halstead said.

'The reduction in this month was impacted by the UK and relates in part to fewer trading days and, we believe, year-end stock reductions by UK distributors.'

'Trading in January is ahead of the comparative period.'

The company said it had seen margin improvement and profit for the half year would be at a record level.

'Our confidence in full year progress continues and our ability to continue with strong dividend growth enhanced,' it added.

At 2:33pm: (LON:JHD) James Halstead PLC share price was +6p at 466p

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